-------------------------------------------------------------------------------------------------------------------
      name:  <unnamed>
       log:  /Users/lorendg/Documents/MASSEY/Research/REVISION_RESTAT /Accepted_version/Codes_RESTAT/Figures5-6.log
  log type:  text
 opened on:  26 May 2013, 21:22:33

. use prodndnp_fullsample.dta

. 
. set matsize 800

. /*Creating future netprod*/
. set more off

. /*MODEL 0*/
. /*OLS out-of-sample program*/
. forval i = 3(1)20{
  2. qui reg lprodf3 y2-y27 nopapers if group==1 & t==`i'
  3. qui scalar n1=e(N)
  4. estat ic
  5. scalar rmseols=e(rmse)
  6. predict ybols if group==2 & t==`i' & lprodf3<., xb 
  7. scalar r2i1ols= e(r2)   /*computing the R2 of the baseline model*/
  8. qui gen sqerrolsM0= (lprodf3-ybols)^2 if ybols<.
  9. quietly egen peols=sum(sqerrolsM0)if ybols<.  /*RSEE of the predicted model*/
 10. quietly sum peols    /*summarizing the RSEE*/
 11. quietly scalar rssols=r(max)  /*obtaining the total RSEE*/
 12. quietly scalar nols=r(N)    /*number of observations in group 2*/
 13. scalar rmseo2olsM0=(rssols/nols)^0.5   /*RMSE out of sample*/
 14. di rmseols   "  Pooled OLS in-sample RMSE"
 15. di n1 " Number of observations in the in-sample group"
 16. di rmseo2olsM0 "  Pooled OLS out-of-sample RMSE"
 17. di nols " Number of observations in the out-of-sample group"
 18. drop peols ybols
 19. outreg2 using careertimeM0, drop(`varlist') nocon dec(3) nose long addstat(n_in, n1,n_os,nols, R-squared,r2i1o
> ls, RMSE,rmseo2olsM0, t,`i') excel
 20. 
. 
. /*MODEL 1*/
. /*OLS out-of-sample program*/
. 
. qui reg lprodf3 y2-y27 nopapers lprodf3l-lprodf3l13 if group==1 & t==`i'
 21. qui scalar n1=e(N)
 22. estat ic
 23. scalar rmseols=e(rmse)
 24. predict ybols if group==2 & t==`i' & lprodf3<., xb 
 25. scalar r2i1ols= e(r2)   /*computing the R2 of the baseline model*/
 26. qui gen sqerrolsM1= (lprodf3-ybols)^2 if ybols<.
 27. quietly egen peols=sum(sqerrolsM1)if ybols<.  /*RSEE of the predicted model*/
 28. quietly sum peols    /*summarizing the RSEE*/
 29. quietly scalar rssols=r(max)  /*obtaining the total RSEE*/
 30. quietly scalar nols=r(N)    /*number of observations in group 2*/
 31. scalar rmseo2olsM1=(rssols/nols)^0.5   /*RMSE out of sample*/
 32. gen diffsqerrlM1= sqerrolsM0-sqerrolsM1
 33. newey diffsqerrlM1 if ybols<., lag(0)
 34. scalar diffrmseoutM1=((rmseo2olsM0-rmseo2olsM1)/rmseo2olsM0)*100
 35. di rmseols   "  Pooled OLS in-sample RMSE"
 36. di n1 " Number of observations in the in-sample group"
 37. di rmseo2olsM1 "  Pooled OLS out-of-sample RMSE"
 38. di nols " Number of observations in the out-of-sample group"
 39. di diffrmseoutM1 "RMSE % difference between Model 1 and Model 0"
 40. drop peols ybols 
 41. outreg2 using careertimeM1unr, drop(`varlist') nocon dec(3) nose long addstat(n_in, n1,n_os,nols, R-squared,r2
> i1ols, RMSE,rmseo2olsM1, RMSE % diff, diffrmseoutM1, t,`i') excel
 42. 
. 
. /*MV Model 2*/
. /*OLS out-of-sample program*/
. 
. qui reg lprodf3 y2-y27 nopapers lnetprod1y-lnetprod12y lnetprod21y-lnetprod212y degree1y-degree12y degree21y-degr
> ee212y gc1y-gc12y lbet1y-lbet12y lclos1y-lclos12y neiq1fs1y-neiq1fs12y if group==1 & t==`i'
 43. qui scalar n1=e(N)
 44. estat ic
 45. scalar rmseols=e(rmse)
 46. predict ybols if group==2 & t==`i' & lprodf3<., xb 
 47. scalar r2i1ols= e(r2)   /*computing the R2 of the baseline model*/
 48. qui gen sqerrolsM2= (lprodf3-ybols)^2 if ybols<.
 49. quietly egen peols=sum(sqerrolsM2)if ybols<.  /*RSEE of the predicted model*/
 50. quietly sum peols    /*summarizing the RSEE*/
 51. quietly scalar rssols=r(max)  /*obtaining the total RSEE*/
 52. quietly scalar nols=r(N)    /*number of observations in group 2*/
 53. scalar rmseo2olsM2=(rssols/nols)^0.5   /*RMSE out of sample*/
 54. gen diffsqerrlM2= sqerrolsM1-sqerrolsM2
 55. newey diffsqerrlM2 if ybols<., lag(0)
 56. scalar diffrmseoutM2=((rmseo2olsM1-rmseo2olsM2)/rmseo2olsM1)*100
 57. di rmseols   "  Pooled OLS in-sample RMSE"
 58. di n1 " Number of observations in the in-sample group"
 59. di rmseo2olsM2 "  Pooled OLS out-of-sample RMSE"
 60. di nols " Number of observations in the out-of-sample group"
 61. di diffrmseoutM2 "RMSE % difference between Model 2 and Model 0"
 62. drop peols ybols
 63. outreg2 using careertimeM2unr, drop(`varlist') nocon dec(3) nose long addstat(n_in, n1,n_os,nols, R-squared,r2
> i1ols, RMSE,rmseo2olsM2, RMSE % diff, diffrmseoutM2, t,`i') excel
 64. 
. 
. 
. /*MV Model 3*/
. /*OLS out-of-sample program*/
. qui reg lprodf3 y2-y27 nopapers lprodf3l-lprodf3l13 lnetprod1y-lnetprod6y lnetprod21y-lnetprod26y degree1y-degree
> 6y degree21y-degree26y gc1y-gc6y lbet1y-lbet6y lclos1y-lclos6y neiq1fs1y-neiq1fs6y if group==1 & t==`i'
 65. qui scalar n1=e(N)
 66. estat ic
 67. scalar rmseols=e(rmse)
 68. predict ybols if group==2 & t==`i' & lprodf3<., xb 
 69. scalar r2i1ols= e(r2)   /*computing the R2 of the baseline model*/
 70. qui gen sqerrolsM3= (lprodf3-ybols)^2 if ybols<.
 71. quietly egen peols=sum(sqerrolsM3)if ybols<.  /*RSEE of the predicted model*/
 72. quietly sum peols    /*summarizing the RSEE*/
 73. quietly scalar rssols=r(max)  /*obtaining the total RSEE*/
 74. quietly scalar nols=r(N)    /*number of observations in group 2*/
 75. scalar rmseo2olsM3=(rssols/nols)^0.5   /*RMSE out of sample*/
 76. gen diffsqerrlM3= sqerrolsM1-sqerrolsM3
 77. newey diffsqerrlM3 if ybols<., lag(0)
 78. scalar diffrmseoutM3=((rmseo2olsM1-rmseo2olsM3)/rmseo2olsM1)*100
 79. di rmseols   "  Pooled OLS in-sample RMSE"
 80. di n1 " Number of observations in the in-sample group"
 81. di rmseo2olsM3 "  Pooled OLS out-of-sample RMSE"
 82. di nols " Number of observations in the out-of-sample group"
 83. di diffrmseoutM3 "RMSE % difference between Model 3 and Model 1"
 84. drop peols ybols
 85. outreg2 using careertimeM3unr, drop(`varlist') nocon dec(3) nose long addstat(n_in, n1,n_os,nols, R-squared,r2
> i1ols, RMSE,rmseo2olsM3, RMSE % diff, diffrmseoutM3, t,`i') excel
 86. drop sqerrolsM0 sqerrolsM1 sqerrolsM2 sqerrolsM3 diffsqerrlM1 diffsqerrlM2 diffsqerrlM3
 87. }

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  45813   -70117.92   -65409.49     26       130871      131098
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1651379 missing values generated)
1.0091363  Pooled OLS in-sample RMSE
45813 Number of observations in the in-sample group
.98933222  Pooled OLS out-of-sample RMSE
46036 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  45813   -70117.92    -61115.6     27     122285.2      122521
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1651379 missing values generated)
(1651379 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     46036
maximum lag: 0                                      F(  0, 46035)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .1566253   .0056637    27.65   0.000     .1455243    .1677263
------------------------------------------------------------------------------
.91886083  Pooled OLS in-sample RMSE
45813 Number of observations in the in-sample group
.9067265  Pooled OLS out-of-sample RMSE
46036 Number of observations in the out-of-sample group
8.3496444RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  45813   -70117.92   -62975.92    122     126195.8    127261.2
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1651379 missing values generated)
(1651379 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     46036
maximum lag: 0                                      F(  0, 46035)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   -.065226   .0054428   -11.98   0.000     -.075894   -.0545581
------------------------------------------------------------------------------
.95793503  Pooled OLS in-sample RMSE
45813 Number of observations in the in-sample group
.94200795  Pooled OLS out-of-sample RMSE
46036 Number of observations in the out-of-sample group
-3.8910802RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  45813   -70117.92   -60332.08     75     120814.2    121469.1
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1651379 missing values generated)
(1651379 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     46036
maximum lag: 0                                      F(  0, 46035)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0266802   .0023071    11.56   0.000     .0221582    .0312022
------------------------------------------------------------------------------
.90375337  Pooled OLS in-sample RMSE
45813 Number of observations in the in-sample group
.89189283  Pooled OLS out-of-sample RMSE
46036 Number of observations in the out-of-sample group
1.6359584RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  43112   -65683.25   -60167.58     25     120385.2    120601.9
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1654065 missing values generated)
.97722579  Pooled OLS in-sample RMSE
43112 Number of observations in the in-sample group
.96043209  Pooled OLS out-of-sample RMSE
43350 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  43112   -65683.25   -54611.46     27     109276.9      109511
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1654065 missing values generated)
(1654065 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     43350
maximum lag: 0                                      F(  0, 43349)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .1945242   .0069744    27.89   0.000     .1808543    .2081942
------------------------------------------------------------------------------
.85908209  Pooled OLS in-sample RMSE
43112 Number of observations in the in-sample group
.85317383  Pooled OLS out-of-sample RMSE
43350 Number of observations in the out-of-sample group
11.167709RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  43112   -65683.25   -57033.38    121     114308.8      115358
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1654065 missing values generated)
(1654065 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     43350
maximum lag: 0                                      F(  0, 43349)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0882758   .0062129   -14.21   0.000    -.1004533   -.0760984
------------------------------------------------------------------------------
.90971748  Pooled OLS in-sample RMSE
43112 Number of observations in the in-sample group
.9034276  Pooled OLS out-of-sample RMSE
43350 Number of observations in the out-of-sample group
-5.8902146RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  43112   -65683.25   -53885.52     75       107921    108571.4
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1654065 missing values generated)
(1654065 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     43350
maximum lag: 0                                      F(  0, 43349)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0177229   .0021519     8.24   0.000     .0135052    .0219407
------------------------------------------------------------------------------
.84520865  Pooled OLS in-sample RMSE
43112 Number of observations in the in-sample group
.84272333  Pooled OLS out-of-sample RMSE
43350 Number of observations in the out-of-sample group
1.2248971RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  40675   -61151.21   -55252.03     24     110552.1    110758.8
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1656497 missing values generated)
.9415147  Pooled OLS in-sample RMSE
40675 Number of observations in the in-sample group
.9266282  Pooled OLS out-of-sample RMSE
40918 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  40675   -61151.21    -49401.5     27        98857    99089.56
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1656497 missing values generated)
(1656497 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     40918
maximum lag: 0                                      F(  0, 40917)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2024008   .0071842    28.17   0.000     .1883196     .216482
------------------------------------------------------------------------------
.81540982  Pooled OLS in-sample RMSE
40675 Number of observations in the in-sample group
.81008581  Pooled OLS out-of-sample RMSE
40918 Number of observations in the out-of-sample group
12.577039RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  40675   -61151.21   -51665.01    120       103570    104603.6
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1656497 missing values generated)
(1656497 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     40918
maximum lag: 0                                      F(  0, 40917)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0769338   .0061066   -12.60   0.000    -.0889028   -.0649648
------------------------------------------------------------------------------
.86306062  Pooled OLS in-sample RMSE
40675 Number of observations in the in-sample group
.85625511  Pooled OLS out-of-sample RMSE
40918 Number of observations in the out-of-sample group
-5.6993091RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  40675   -61151.21   -48697.44     75     97544.88    98190.88
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1656497 missing values generated)
(1656497 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     40918
maximum lag: 0                                      F(  0, 40917)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0220078   .0020463    10.76   0.000      .017997    .0260185
------------------------------------------------------------------------------
.80189062  Pooled OLS in-sample RMSE
40675 Number of observations in the in-sample group
.79638637  Pooled OLS out-of-sample RMSE
40918 Number of observations in the out-of-sample group
1.6911093RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  38322   -56958.49   -51165.74     23     102377.5    102574.2
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1658910 missing values generated)
.91990477  Pooled OLS in-sample RMSE
38322 Number of observations in the in-sample group
.91173825  Pooled OLS out-of-sample RMSE
38505 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  38322   -56958.49   -45219.75     27      90493.5    90724.46
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1658910 missing values generated)
(1658910 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     38505
maximum lag: 0                                      F(  0, 38504)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2269485   .0074946    30.28   0.000     .2122589    .2416381
------------------------------------------------------------------------------
.78773655  Pooled OLS in-sample RMSE
38322 Number of observations in the in-sample group
.77737901  Pooled OLS out-of-sample RMSE
38505 Number of observations in the out-of-sample group
14.736602RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  38322   -56958.49   -47334.97    119     94907.93    95925.83
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1658910 missing values generated)
(1658910 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     38505
maximum lag: 0                                      F(  0, 38504)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0860382   .0060634   -14.19   0.000    -.0979226   -.0741538
------------------------------------------------------------------------------
.83344038  Pooled OLS in-sample RMSE
38322 Number of observations in the in-sample group
.83087687  Pooled OLS out-of-sample RMSE
38505 Number of observations in the out-of-sample group
-6.8818238RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  38322   -56958.49   -44528.31     75     89206.62    89848.15
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1658910 missing values generated)
(1658910 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     38505
maximum lag: 0                                      F(  0, 38504)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0153284   .0020244     7.57   0.000     .0113606    .0192961
------------------------------------------------------------------------------
.77413625  Pooled OLS in-sample RMSE
38322 Number of observations in the in-sample group
.76745672  Pooled OLS out-of-sample RMSE
38505 Number of observations in the out-of-sample group
1.276378RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  36261   -53196.79   -47567.28     22     95178.57    95365.53
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1661014 missing values generated)
.89867643  Pooled OLS in-sample RMSE
36261 Number of observations in the in-sample group
.88604883  Pooled OLS out-of-sample RMSE
36401 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  36261   -53196.79   -40907.15     27     81868.31    82097.77
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1661014 missing values generated)
(1661014 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     36401
maximum lag: 0                                      F(  0, 36400)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2319005   .0080097    28.95   0.000     .2162011    .2475998
------------------------------------------------------------------------------
.747938  Pooled OLS in-sample RMSE
36261 Number of observations in the in-sample group
.74376211  Pooled OLS out-of-sample RMSE
36401 Number of observations in the out-of-sample group
16.058564RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  36261   -53196.79   -43399.55    118     87035.09    88037.91
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1661014 missing values generated)
(1661014 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     36401
maximum lag: 0                                      F(  0, 36400)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0878768   .0060934   -14.42   0.000      -.09982   -.0759336
------------------------------------------------------------------------------
.80216326  Pooled OLS in-sample RMSE
36261 Number of observations in the in-sample group
.80066155  Pooled OLS out-of-sample RMSE
36401 Number of observations in the out-of-sample group
-7.6502198RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  36261   -53196.79   -40465.41     75     81080.83    81718.22
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1661014 missing values generated)
(1661014 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     36401
maximum lag: 0                                      F(  0, 36400)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0120303   .0016726     7.19   0.000      .008752    .0153086
------------------------------------------------------------------------------
.73937161  Pooled OLS in-sample RMSE
36261 Number of observations in the in-sample group
.73563021  Pooled OLS out-of-sample RMSE
36401 Number of observations in the out-of-sample group
1.0933474RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  34426   -49861.63   -44547.46     21     89136.91    89314.29
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1662913 missing values generated)
.88282587  Pooled OLS in-sample RMSE
34426 Number of observations in the in-sample group
.85993346  Pooled OLS out-of-sample RMSE
34502 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  34426   -49861.63   -37564.02     27     75182.05     75410.1
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1662913 missing values generated)
(1662913 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     34502
maximum lag: 0                                      F(  0, 34501)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2282276   .0083279    27.41   0.000     .2119047    .2445505
------------------------------------------------------------------------------
.72080003  Pooled OLS in-sample RMSE
34426 Number of observations in the in-sample group
.715023  Pooled OLS out-of-sample RMSE
34502 Number of observations in the out-of-sample group
16.851357RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  34426   -49861.63   -40036.08    117     80306.15     81294.4
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1662913 missing values generated)
(1662913 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     34502
maximum lag: 0                                      F(  0, 34501)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0764097   .0059699   -12.80   0.000    -.0881109   -.0647084
------------------------------------------------------------------------------
.77547784  Pooled OLS in-sample RMSE
34426 Number of observations in the in-sample group
.76659476  Pooled OLS out-of-sample RMSE
34502 Number of observations in the out-of-sample group
-7.2126012RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  34426   -49861.63   -37055.22     75     74260.44    74893.93
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1662913 missing values generated)
(1662913 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     34502
maximum lag: 0                                      F(  0, 34501)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0102447   .0017557     5.84   0.000     .0068035    .0136858
------------------------------------------------------------------------------
.71072121  Pooled OLS in-sample RMSE
34426 Number of observations in the in-sample group
.70782289  Pooled OLS out-of-sample RMSE
34502 Number of observations in the out-of-sample group
1.0069764RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  32655   -46416.12   -41417.47     20     82874.95    83042.82
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1664725 missing values generated)
.86045203  Pooled OLS in-sample RMSE
32655 Number of observations in the in-sample group
.83942151  Pooled OLS out-of-sample RMSE
32690 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  32655   -46416.12   -34505.03     27     69064.06    69290.69
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1664725 missing values generated)
(1664725 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     32690
maximum lag: 0                                      F(  0, 32689)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2370094   .0086145    27.51   0.000     .2201246    .2538942
------------------------------------------------------------------------------
.69637205  Pooled OLS in-sample RMSE
32655 Number of observations in the in-sample group
.68382679  Pooled OLS out-of-sample RMSE
32690 Number of observations in the out-of-sample group
18.535946RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  32655   -46416.12    -37013.3    116     74258.61    75232.28
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1664725 missing values generated)
(1664725 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     32690
maximum lag: 0                                      F(  0, 32689)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0762438   .0058061   -13.13   0.000    -.0876239   -.0648636
------------------------------------------------------------------------------
.75299696  Pooled OLS in-sample RMSE
32655 Number of observations in the in-sample group
.73747058  Pooled OLS out-of-sample RMSE
32690 Number of observations in the out-of-sample group
-7.8446461RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  32655   -46416.12   -34076.69     75     68303.37    68932.91
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1664725 missing values generated)
(1664725 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     32690
maximum lag: 0                                      F(  0, 32689)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0087721   .0015677     5.60   0.000     .0056994    .0118448
------------------------------------------------------------------------------
.68780338  Pooled OLS in-sample RMSE
32655 Number of observations in the in-sample group
.67738243  Pooled OLS out-of-sample RMSE
32690 Number of observations in the out-of-sample group
.94239675RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  30892   -42837.43    -38111.5     19        76261    76419.43
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1666614 missing values generated)
.83116277  Pooled OLS in-sample RMSE
30892 Number of observations in the in-sample group
.8210322  Pooled OLS out-of-sample RMSE
30801 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  30892   -42837.43   -31648.73     27     63351.47     63576.6
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1666614 missing values generated)
(1666614 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     30801
maximum lag: 0                                      F(  0, 30800)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2335536   .0086812    26.90   0.000     .2165381     .250569
------------------------------------------------------------------------------
.67435051  Pooled OLS in-sample RMSE
30892 Number of observations in the in-sample group
.66373211  Pooled OLS out-of-sample RMSE
30801 Number of observations in the out-of-sample group
19.158822RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  30892   -42837.43   -33801.98    115     67833.96    68792.86
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1666614 missing values generated)
(1666614 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     30801
maximum lag: 0                                      F(  0, 30800)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0663123   .0056542   -11.73   0.000    -.0773947   -.0552299
------------------------------------------------------------------------------
.72406417  Pooled OLS in-sample RMSE
30892 Number of observations in the in-sample group
.71193582  Pooled OLS out-of-sample RMSE
30801 Number of observations in the out-of-sample group
-7.2625259RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  30892   -42837.43   -31231.31     75     62612.63    63237.99
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1666614 missing values generated)
(1666614 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     30801
maximum lag: 0                                      F(  0, 30800)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0098335   .0016103     6.11   0.000     .0066773    .0129897
------------------------------------------------------------------------------
.66581774  Pooled OLS in-sample RMSE
30892 Number of observations in the in-sample group
.65628261  Pooled OLS out-of-sample RMSE
30801 Number of observations in the out-of-sample group
1.1223647RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  29092   -39616.17   -35153.53     18     70343.06    70492.07
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1668327 missing values generated)
.81036394  Pooled OLS in-sample RMSE
29092 Number of observations in the in-sample group
.80487869  Pooled OLS out-of-sample RMSE
29088 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  29092   -39616.17   -28711.51     27     57477.02    57700.54
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1668327 missing values generated)
(1668327 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     29088
maximum lag: 0                                      F(  0, 29087)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2354245   .0087713    26.84   0.000     .2182324    .2526165
------------------------------------------------------------------------------
.6494996  Pooled OLS in-sample RMSE
29092 Number of observations in the in-sample group
.64218784  Pooled OLS out-of-sample RMSE
29088 Number of observations in the out-of-sample group
20.21309RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  29092   -39616.17   -30840.59    114     61909.18     62852.9
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1668327 missing values generated)
(1668327 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     29088
maximum lag: 0                                      F(  0, 29087)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0698243    .005585   -12.50   0.000    -.0807711   -.0588774
------------------------------------------------------------------------------
.69986363  Pooled OLS in-sample RMSE
29092 Number of observations in the in-sample group
.69442746  Pooled OLS out-of-sample RMSE
29088 Number of observations in the out-of-sample group
-8.1346336RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  29092   -39616.17   -28310.58     75     56771.17    57392.03
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1668327 missing values generated)
(1668327 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     29088
maximum lag: 0                                      F(  0, 29087)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0071745   .0016319     4.40   0.000     .0039759    .0103732
------------------------------------------------------------------------------
.64113962  Pooled OLS in-sample RMSE
29092 Number of observations in the in-sample group
.63657733  Pooled OLS out-of-sample RMSE
29088 Number of observations in the out-of-sample group
.87365479RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  27296   -36579.35    -32503.2     17      65040.4    65180.05
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1670068 missing values generated)
.79623638  Pooled OLS in-sample RMSE
27296 Number of observations in the in-sample group
.78564754  Pooled OLS out-of-sample RMSE
27347 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  27296   -36579.35   -25786.42     27     51626.83    51848.62
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1670068 missing values generated)
(1670068 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     27347
maximum lag: 0                                      F(  0, 27346)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2265573   .0092294    24.55   0.000     .2084672    .2446474
------------------------------------------------------------------------------
.62266419  Pooled OLS in-sample RMSE
27296 Number of observations in the in-sample group
.62504782  Pooled OLS out-of-sample RMSE
27347 Number of observations in the out-of-sample group
20.441701RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  27296   -36579.35   -28008.01    113     56242.01    57170.25
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1670068 missing values generated)
(1670068 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     27347
maximum lag: 0                                      F(  0, 27346)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0651134   .0055673   -11.70   0.000    -.0760257   -.0542011
------------------------------------------------------------------------------
.67652915  Pooled OLS in-sample RMSE
27296 Number of observations in the in-sample group
.67512827  Pooled OLS out-of-sample RMSE
27347 Number of observations in the out-of-sample group
-8.0122589RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  27296   -36579.35   -25413.01     75     50976.02    51592.11
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1670068 missing values generated)
(1670068 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     27347
maximum lag: 0                                      F(  0, 27346)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0034637   .0016148     2.14   0.032     .0002986    .0066288
------------------------------------------------------------------------------
.61474553  Pooled OLS in-sample RMSE
27296 Number of observations in the in-sample group
.62227088  Pooled OLS out-of-sample RMSE
27347 Number of observations in the out-of-sample group
.44427666RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  25578   -33892.59   -30022.06     16     60076.12    60206.52
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1671856 missing values generated)
.78279831  Pooled OLS in-sample RMSE
25578 Number of observations in the in-sample group
.77289843  Pooled OLS out-of-sample RMSE
25559 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  25578   -33892.59   -23311.95     27     46677.89    46897.93
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1671856 missing values generated)
(1671856 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     25559
maximum lag: 0                                      F(  0, 25558)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2242734   .0094997    23.61   0.000     .2056534    .2428934
------------------------------------------------------------------------------
.60229719  Pooled OLS in-sample RMSE
25578 Number of observations in the in-sample group
.61081795  Pooled OLS out-of-sample RMSE
25559 Number of observations in the out-of-sample group
20.970476RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  25578   -33892.59    -25625.3    112      51474.6    52387.35
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1671856 missing values generated)
(1671856 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     25559
maximum lag: 0                                      F(  0, 25558)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0693131   .0056161   -12.34   0.000    -.0803211   -.0583051
------------------------------------------------------------------------------
.66040959  Pooled OLS in-sample RMSE
25578 Number of observations in the in-sample group
.66514033  Pooled OLS out-of-sample RMSE
25559 Number of observations in the out-of-sample group
-8.8933828RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  25578   -33892.59   -23062.99     75     46275.98    46887.19
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1671856 missing values generated)
(1671856 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     25559
maximum lag: 0                                      F(  0, 25558)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0035086   .0013141     2.67   0.008     .0009329    .0060842
------------------------------------------------------------------------------
.59702438  Pooled OLS in-sample RMSE
25578 Number of observations in the in-sample group
.60793913  Pooled OLS out-of-sample RMSE
25559 Number of observations in the out-of-sample group
.47130534RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  23842   -31238.76   -27703.02     15     55436.05    55557.24
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1673569 missing values generated)
.7736144  Pooled OLS in-sample RMSE
23842 Number of observations in the in-sample group
.76242568  Pooled OLS out-of-sample RMSE
23846 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  23842   -31238.76   -21365.72     27     42785.43    43003.57
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1673569 missing values generated)
(1673569 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     23846
maximum lag: 0                                      F(  0, 23845)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2223053   .0097871    22.71   0.000      .203122    .2414886
------------------------------------------------------------------------------
.59319371  Pooled OLS in-sample RMSE
23842 Number of observations in the in-sample group
.59915573  Pooled OLS out-of-sample RMSE
23846 Number of observations in the out-of-sample group
21.41454RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  23842   -31238.76    -23241.8    111      46705.6    47602.39
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1673569 missing values generated)
(1673569 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     23846
maximum lag: 0                                      F(  0, 23845)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0634903   .0059535   -10.66   0.000    -.0751595   -.0518211
------------------------------------------------------------------------------
.6428915  Pooled OLS in-sample RMSE
23842 Number of observations in the in-sample group
.64998301  Pooled OLS out-of-sample RMSE
23846 Number of observations in the out-of-sample group
-8.48315RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  23842   -31238.76    -20990.5     75     42131.01    42736.95
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1673569 missing values generated)
(1673569 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     23846
maximum lag: 0                                      F(  0, 23845)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0020191   .0020445     0.99   0.323    -.0019882    .0060264
------------------------------------------------------------------------------
.58452079  Pooled OLS in-sample RMSE
23842 Number of observations in the in-sample group
.59746843  Pooled OLS out-of-sample RMSE
23846 Number of observations in the out-of-sample group
.28161226RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  22048   -28592.72   -25367.81     14     50763.62    50875.64
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1675383 missing values generated)
.76487034  Pooled OLS in-sample RMSE
22048 Number of observations in the in-sample group
.74768637  Pooled OLS out-of-sample RMSE
22032 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  22048   -28592.72   -19253.91     27     38561.82    38777.85
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1675383 missing values generated)
(1675383 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     22032
maximum lag: 0                                      F(  0, 22031)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2125127    .010017    21.22   0.000     .1928786    .2321468
------------------------------------------------------------------------------
.57981082  Pooled OLS in-sample RMSE
22048 Number of observations in the in-sample group
.58866135  Pooled OLS out-of-sample RMSE
22032 Number of observations in the out-of-sample group
21.268948RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  22048   -28592.72   -21068.88    110     42357.76    43237.87
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1675383 missing values generated)
(1675383 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     22032
maximum lag: 0                                      F(  0, 22031)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0532917   .0061148    -8.72   0.000    -.0652771   -.0413064
------------------------------------------------------------------------------
.63074961  Pooled OLS in-sample RMSE
22048 Number of observations in the in-sample group
.6323084  Pooled OLS out-of-sample RMSE
22032 Number of observations in the out-of-sample group
-7.4146294RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  22048   -28592.72   -18886.27     75     37922.55    38522.62
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1675383 missing values generated)
(1675383 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     22032
maximum lag: 0                                      F(  0, 22031)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0057219   .0018252     3.13   0.002     .0021443    .0092995
------------------------------------------------------------------------------
.57084549  Pooled OLS in-sample RMSE
22048 Number of observations in the in-sample group
.583781  Pooled OLS out-of-sample RMSE
22032 Number of observations in the out-of-sample group
.8290583RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  20469   -26226.85   -23286.37     13     46598.74    46701.79
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1676977 missing values generated)
.75504348  Pooled OLS in-sample RMSE
20469 Number of observations in the in-sample group
.73655369  Pooled OLS out-of-sample RMSE
20438 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  20469   -26226.85   -17557.39     26     35166.78    35372.87
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1676977 missing values generated)
(1676977 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     20438
maximum lag: 0                                      F(  0, 20437)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2142544   .0104073    20.59   0.000     .1938551    .2346536
------------------------------------------------------------------------------
.5708962  Pooled OLS in-sample RMSE
20469 Number of observations in the in-sample group
.57293715  Pooled OLS out-of-sample RMSE
20438 Number of observations in the out-of-sample group
22.213797RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  20469   -26226.85   -19200.04    109     38618.07    39482.08
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1676977 missing values generated)
(1676977 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     20438
maximum lag: 0                                      F(  0, 20437)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0646836   .0063384   -10.21   0.000    -.0771074   -.0522599
------------------------------------------------------------------------------
.61985899  Pooled OLS in-sample RMSE
20469 Number of observations in the in-sample group
.62684974  Pooled OLS out-of-sample RMSE
20438 Number of observations in the out-of-sample group
-9.409862RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  20469   -26226.85   -17227.85     74      34603.7    35190.27
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1676977 missing values generated)
(1676977 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     20438
maximum lag: 0                                      F(  0, 20437)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0007657   .0018354     0.42   0.677    -.0028317    .0043632
------------------------------------------------------------------------------
.56243935  Pooled OLS in-sample RMSE
20469 Number of observations in the in-sample group
.57226849  Pooled OLS out-of-sample RMSE
20438 Number of observations in the out-of-sample group
.11670685RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  18706   -23622.17   -20987.71     12     41999.43    42093.47
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1678753 missing values generated)
.7433115  Pooled OLS in-sample RMSE
18706 Number of observations in the in-sample group
.72698496  Pooled OLS out-of-sample RMSE
18662 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  18706   -23622.17   -15979.07     25     32008.14    32204.06
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1678753 missing values generated)
(1678753 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     18662
maximum lag: 0                                      F(  0, 18661)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |     .21538   .0107562    20.02   0.000     .1942969     .236463
------------------------------------------------------------------------------
.56890142  Pooled OLS in-sample RMSE
18706 Number of observations in the in-sample group
.55957766  Pooled OLS out-of-sample RMSE
18662 Number of observations in the out-of-sample group
23.027614RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  18706   -23622.17   -17358.72    108     34933.45     35779.8
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1678753 missing values generated)
(1678753 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     18662
maximum lag: 0                                      F(  0, 18661)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0740724   .0066206   -11.19   0.000    -.0870494   -.0610954
------------------------------------------------------------------------------
.61381168  Pooled OLS in-sample RMSE
18706 Number of observations in the in-sample group
.62225358  Pooled OLS out-of-sample RMSE
18662 Number of observations in the out-of-sample group
-11.200576RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  18706   -23622.17    -15694.5     73     31534.99    32107.07
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1678753 missing values generated)
(1678753 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     18662
maximum lag: 0                                      F(  0, 18661)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0020437   .0021376    -0.96   0.339    -.0062336    .0021462
------------------------------------------------------------------------------
.56103344  Pooled OLS in-sample RMSE
18706 Number of observations in the in-sample group
.56140081  Pooled OLS out-of-sample RMSE
18662 Number of observations in the out-of-sample group
-.32580733RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  16898   -21189.86   -18802.36     11     37626.73    37711.81
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1680545 missing values generated)
.73644898  Pooled OLS in-sample RMSE
16898 Number of observations in the in-sample group
.72006412  Pooled OLS out-of-sample RMSE
16870 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  16898   -21189.86   -14293.17     24     28634.34    28819.98
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1680545 missing values generated)
(1680545 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     16870
maximum lag: 0                                      F(  0, 16869)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2118214   .0111356    19.02   0.000     .1899945    .2336483
------------------------------------------------------------------------------
.56418217  Pooled OLS in-sample RMSE
16898 Number of observations in the in-sample group
.55377877  Pooled OLS out-of-sample RMSE
16870 Number of observations in the out-of-sample group
23.093131RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  16898   -21189.86   -15538.15    107     31290.29    32117.93
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1680545 missing values generated)
(1680545 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     16870
maximum lag: 0                                      F(  0, 16869)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0717494   .0065915   -10.89   0.000    -.0846695   -.0588293
------------------------------------------------------------------------------
.60881751  Pooled OLS in-sample RMSE
16898 Number of observations in the in-sample group
.61515879  Pooled OLS out-of-sample RMSE
16870 Number of observations in the out-of-sample group
-11.083852RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  16898   -21189.86   -14091.64     72     28327.28    28884.19
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1680545 missing values generated)
(1680545 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     16870
maximum lag: 0                                      F(  0, 16869)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .0014591   .0016796     0.87   0.385    -.0018331    .0047513
------------------------------------------------------------------------------
.55828811  Pooled OLS in-sample RMSE
16898 Number of observations in the in-sample group
.55245984  Pooled OLS out-of-sample RMSE
16870 Number of observations in the out-of-sample group
.23816972RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  15235   -19037.08   -16892.02     10     33804.04    33880.35
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1682300 missing values generated)
.73355977  Pooled OLS in-sample RMSE
15235 Number of observations in the in-sample group
.7140796  Pooled OLS out-of-sample RMSE
15115 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  15235   -19037.08   -12710.81     23     25467.62    25643.14
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1682300 missing values generated)
(1682300 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     15115
maximum lag: 0                                      F(  0, 15114)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2176598   .0116757    18.64   0.000     .1947741    .2405456
------------------------------------------------------------------------------
.55773758  Pooled OLS in-sample RMSE
15235 Number of observations in the in-sample group
.54060135  Pooled OLS out-of-sample RMSE
15115 Number of observations in the out-of-sample group
24.293965RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  15235   -19037.08   -13857.74    106     27927.47     28736.4
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1682300 missing values generated)
(1682300 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     15115
maximum lag: 0                                      F(  0, 15114)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0668595   .0068489    -9.76   0.000    -.0802842   -.0534347
------------------------------------------------------------------------------
.60299356  Pooled OLS in-sample RMSE
15235 Number of observations in the in-sample group
.59925726  Pooled OLS out-of-sample RMSE
15115 Number of observations in the out-of-sample group
-10.850124RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  15235   -19037.08   -12506.51     71     25155.02    25696.85
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1682300 missing values generated)
(1682300 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     15115
maximum lag: 0                                      F(  0, 15114)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |    .000518   .0017175     0.30   0.763    -.0028485    .0038845
------------------------------------------------------------------------------
.55117859  Pooled OLS in-sample RMSE
15235 Number of observations in the in-sample group
.54012207  Pooled OLS out-of-sample RMSE
15115 Number of observations in the out-of-sample group
.08865681RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  13488   -16873.46    -14989.9      9     29997.81    30065.39
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1684037 missing values generated)
.73546404  Pooled OLS in-sample RMSE
13488 Number of observations in the in-sample group
.70833611  Pooled OLS out-of-sample RMSE
13378 Number of observations in the out-of-sample group
careertimeM0.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  13488   -16873.46   -11065.73     22     22175.47    22340.68
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1684037 missing values generated)
(1684037 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     13378
maximum lag: 0                                      F(  0, 13377)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |   .2071767   .0125142    16.56   0.000     .1826471    .2317064
------------------------------------------------------------------------------
.55007037  Pooled OLS in-sample RMSE
13488 Number of observations in the in-sample group
.54273687  Pooled OLS out-of-sample RMSE
13378 Number of observations in the out-of-sample group
23.378625RMSE % difference between Model 1 and Model 0
careertimeM1unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  13488   -16873.46   -12064.26    105     24338.51    25127.02
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1684037 missing values generated)
(1684037 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     13378
maximum lag: 0                                      F(  0, 13377)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM2 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0694809   .0075772    -9.17   0.000    -.0843333   -.0546285
------------------------------------------------------------------------------
.59417149  Pooled OLS in-sample RMSE
13488 Number of observations in the in-sample group
.60336074  Pooled OLS out-of-sample RMSE
13378 Number of observations in the out-of-sample group
-11.17003RMSE % difference between Model 2 and Model 0
careertimeM2unr.xml
dir : seeout

-----------------------------------------------------------------------------
       Model |    Obs    ll(null)   ll(model)     df          AIC         BIC
-------------+---------------------------------------------------------------
           . |  13488   -16873.46   -10839.83     70     21819.67    22345.33
-----------------------------------------------------------------------------
               Note:  N=Obs used in calculating BIC; see [R] BIC note
(1684037 missing values generated)
(1684037 missing values generated)

Regression with Newey-West standard errors          Number of obs  =     13378
maximum lag: 0                                      F(  0, 13377)  =         .
                                                    Prob > F       =         .

------------------------------------------------------------------------------
             |             Newey-West
diffsqerrlM3 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
       _cons |  -.0009538   .0020519    -0.46   0.642    -.0049759    .0030682
------------------------------------------------------------------------------
.54190102  Pooled OLS in-sample RMSE
13488 Number of observations in the in-sample group
.54361491  Pooled OLS out-of-sample RMSE
13378 Number of observations in the out-of-sample group
-.16178004RMSE % difference between Model 3 and Model 1
careertimeM3unr.xml
dir : seeout

. log close
      name:  <unnamed>
       log:  /Users/lorendg/Documents/MASSEY/Research/REVISION_RESTAT /Accepted_version/Codes_RESTAT/Figures5-6.log
  log type:  text
 closed on:  26 May 2013, 22:18:45
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